Yangzijiang Shipbuilding (Holdings) (SGX:BS6) said a London arbitration tribunal dismissed claims totaling $832.2 million for loss of bargain and profits against three of its subsidiaries, according to a Monday filing on the Singapore Exchange.
However, the tribunal upheld the claimants' right to seek a $3.3 million deposit refund under two contracts, with further rulings expected.
While the awards under the arbitration are final, the company said it is unable to determine the claimants' next course of action and it is coordinating with its legal advisers for the remaining matters and potential response.
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